0001344717-11-000005.txt : 20111114 0001344717-11-000005.hdr.sgml : 20111111 20111114112400 ACCESSION NUMBER: 0001344717-11-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 EFFECTIVENESS DATE: 20111114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Estabrook Capital Management CENTRAL INDEX KEY: 0001344717 IRS NUMBER: 200232649 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11540 FILM NUMBER: 111199245 BUSINESS ADDRESS: STREET 1: 875 THIRD AVENUE 15TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-605-5570 MAIL ADDRESS: STREET 1: 875 THIRD AVENUE 15TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: Grove Creek Asset Management DATE OF NAME CHANGE: 20051117 13F-HR 1 sec13fq32011.txt 13F 09-30-11 United States Securities and Exchange Commission Washington, D.C. 20549 Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment(Check only one.): [ ] is a restatement. [ ] adds a new holdings entries. Institutional Investment Manager Filing this Report: Name: Estabrook Capital Management Address: 875 Third Avenue, 15th Floor New York, NY 10022 Form 13F File Number: 28-11540 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Dave Foley Title: Vice President Phone: 212-605-5570 Signature, Place, and Date of Signing Dave Foley New York, NY November 14, 2011 Report Type (Check only one.): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 221 Form 13F Information Table Value Total: $1,445.3 (thousands) List of Other Included Managers: NONE FORM 13F INFORMATION TABLE ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 09/30/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ 3M COMPANY COM COMMON 88579Y101 4,355,715 60,673 X 51,610 0 9,063 A T & T INC (NEW) COMMON 00206R102 18,612,925 652,627 X 427,183 0 225,444 ABBOTT LABS COMMON 002824100 2,601,390 50,868 X 29,148 0 21,720 ACE LTD SHS COMMON H0023R105 436,926 7,210 X 6,810 0 400 ADVANT-E CORP COM COMMON 00761J107 4,400 20,000 X 0 0 20,000 AEGEAN MARINE PETROLE COMMON Y0017S102 119,064 26,400 X 26,000 0 400 AFLAC INC COMMON 001055102 2,948,312 84,358 X 77,858 0 6,500 AIR PRODS & CHEMS INC COMMON 009158106 372,304 4,875 X 375 0 4,500 ALLEGHENY TECHNOLOGIE COMMON 01741R102 9,048,420 244,618 X X 150,327 65 94,226 ALLSTATE CORP COMMON 020002101 2,771,469 116,989 X X 100,758 140 16,091 ALTRIA GROUP INC COM COMMON 02209S103 302,256 11,274 X 2,524 0 8,750 AMERICA MOVIL S A DE COMMON 02364W105 463,680 21,000 X 0 0 21,000 AMERICAN CENTY INVT T MUTUAL 024932436 311,071 29,513 X 29,513 0 0 AMERICAN EXPRESS COMP COMMON 025816109 6,616,913 147,370 X 115,531 0 31,839 AMERICAN GREEN GROUP COMMON 02639T200 0 1,000,000 X 1,000,000 0 0 AMERICAN INTL CORP PF PREFERR 026874800 203,100 10,000 X 10,000 0 0 AMGEN INC COMMON 031162100 487,990 8,879 X 4,029 0 4,850 ANALOG DEVICES INC COMMON 032654105 625,000 20,000 X 20,000 0 0 APACHE CORP COMMON 037411105 1,839,983 22,931 X 22,305 0 626 APCO OIL AND GAS INTE COMMON G0471F109 3,068,485 41,232 X 32,932 0 8,300 APPLE COMPUTER INC COMMON 037833100 2,271,142 5,956 X 4,575 0 1,381 AVI BIOPHARMA INC COM COMMON 002346104 24,640 22,000 X 22,000 0 0 BABCOCK & WILCOX CO N COMMON 05615F102 527,850 27,000 X 16,754 0 10,246 BAKER HUGHES INC COMMON 057224107 2,415,537 52,341 X 48,575 0 3,766 BANCO LATINOAMER EXPO COMMON P16994132 175,145 11,500 X 11,000 0 500 BANK NOVA SCOTIA HALI COMMON 064149107 7,770,091 154,937 X 69,507 0 85,430 BANK OF AMERICA COMMON 060505104 4,480,742 732,147 X 430,906 0 301,241 BANK OF AMERICA CORPO PREFERR 060505559 364,485 16,500 X 16,300 0 200 BANK OF NEW YORK MELL COMMON 064058100 2,192,058 117,916 X 90,984 0 26,932 BARCLAYS BANK PLC 6.6 PREFERR 06739F390 195,500 10,000 X 10,000 0 0 BCE INC COM NEW COMMON 05534B760 12,486,167 333,320 X 172,080 0 161,240 BECTON DICKINSON & CO COMMON 075887109 18,143,841 247,461 X 157,529 0 89,932 BERKSHIRE HATHAWAY IN COMMON 084670108 534,000 5 X 2 0 3 BERKSHIRE HATHAWAY IN COMMON 084670702 2,724,526 38,352 X 29,927 0 8,425 BHP BILLITON LTD SPON COMMON 088606108 1,423,809 21,430 X 6,055 0 15,375 BIOGEN IDEC INC COMMON 09062X103 1,909,575 20,500 X 20,000 0 500 BORG WARNER AUTOMOTIV COMMON 099724106 1,253,879 20,715 X 16,699 0 4,016 BP AMOCO ADS COMMON 055622104 292,924 8,121 X 8,121 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 1,229,029 39,166 X 31,350 0 7,816 BRITISH AMERN TOB PLC COMMON 110448107 254,190 3,000 X 0 0 3,000 BUNGE LIMITED COM COMMON G16962105 2,808,296 48,178 X 26,580 0 21,598 CABOT OIL & GAS CORP COMMON 127097103 4,448,853 71,860 X 36,615 0 35,245 CANADIAN NATL RY CO COMMON 136375102 6,728,242 101,055 X 47,305 0 53,750 CANADIAN PAC RY LTD C COMMON 13645T100 9,575,729 199,121 X X 163,439 70 35,612 CARDINAL HEALTH INC. COMMON 14149Y108 777,921 18,575 X 10,350 0 8,225 ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 09/30/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ CATERPILLAR TRACTOR COMMON 149123101 8,389,332 113,615 X 77,795 0 35,820 CENOVUS ENERGY INC CO COMMON 15135U109 5,437,390 177,056 X 148,096 0 28,960 CHESAPEAKE ENERGY COR COMMON 165167107 509,671 19,948 X 18,968 0 980 CHEVRON CORPORATION COMMON 166764100 17,270,181 186,523 X X 106,853 40 79,630 CHUBB CORP COMMON 171232101 5,604,506 93,424 X 77,638 0 15,786 CISCO SYS INC COMMON 17275R102 17,893,355 1,154,410 X X 689,162 275 464,973 CITIGROUP CAPITAL 7.8 PREFERR 173080201 1,193,732 45,200 X 45,200 0 0 CITIGROUP INC COMMON 172967424 7,910,832 308,836 X X 161,354 110 147,372 CLIFFS NATURAL RESOUR COMMON 18683K101 2,615,145 51,107 X 37,575 0 13,532 CNOOC LTD SPONSORED A COMMON 126132109 336,630 2,100 X 2,100 0 0 COACH INC COM COMMON 189754104 340,782 6,575 X 575 0 6,000 COCA COLA CO COMMON 191216100 1,299,584 19,236 X 12,511 0 6,725 COGNIZANT TECHNLGY SL COMMON 192446102 251,176 4,006 X 6 0 4,000 COLGATE PALMOLIVE CO COMMON 194162103 330,333 3,725 X 2,025 0 1,700 COLUMBIA LABS INC COMMON 197779101 23,400 12,000 X 12,000 0 0 CONOCOPHILLIPS COMMON 20825C104 42,823,031 676,296 X 431,673 0 244,622 CONSOL ENERGY INC COM COMMON 20854P109 20,791,659 612,781 X 373,573 0 239,208 CORNING INC COMMON 219350105 10,870,002 879,450 X 538,239 0 341,211 CORRECTIONS CORP AMER COMMON 22025Y407 231,438 10,200 X 0 0 10,200 COSTCO WHOLESALE CORP COMMON 22160K105 28,575,080 347,925 X 233,682 0 114,243 COVIDIEN PLC COMMON G2554F113 5,087,597 115,365 X 101,825 0 13,540 CSX CORP COMMON 126408103 222,640 11,925 X 11,925 0 0 DEERE & CO. COMMON 244199105 451,990 7,000 X 4,400 0 2,600 DOMINION RES INC VA N COMMON 25746U109 2,541,495 50,059 X 42,003 0 8,056 DOVER CORP COMMON 260003108 17,499,185 375,519 X 259,415 0 116,104 DOW CHEMICAL CORP COMMON 260543103 5,015,318 223,300 X 98,090 0 125,210 DU PONT E I DE NEMOUR COMMON 263534109 31,556,555 789,506 X 514,197 0 275,309 DUKE ENERGY CORP COMMON 26441C105 5,714,541 285,870 X 209,312 0 76,558 E M C CORP MASS COMMON 268648102 10,026,818 477,695 X 386,185 0 91,510 EATON CORP COMMON 278058102 8,492,731 239,232 X 155,880 0 83,352 EBAY INC COMMON 278642103 1,666,185 56,500 X 48,000 0 8,500 EDISON INTERNATIONAL COMMON 281020107 215,960 5,646 X 5,646 0 0 EL PASO CORPORATION COMMON 28336L109 7,608,013 435,241 X 175,676 0 259,565 EMERSON ELEC CO COMMON 291011104 32,974,799 798,228 X X 491,145 70 307,013 ENCANA CORP COM COMMON 292505104 11,560,907 601,817 X 390,860 0 210,957 EOG RESOURCES INC. COMMON 26875P101 1,445,338 20,354 X 17,338 0 3,016 EQT CORP COM COMMON 26884L109 7,861,262 147,325 X 89,864 0 57,461 EXELON CORP COMMON 30161N101 1,861,929 43,697 X 21,781 0 21,916 EXXON MOBIL CORPORATI COMMON 30231G102 18,493,309 254,624 X 166,112 0 88,512 FACTSET RESH SYS INC COMMON 303075105 4,648,149 52,244 X 39,984 0 12,260 FEDEX CORP COMMON 31428X106 3,635,499 53,716 X 38,915 0 14,801 FORD MTR CO DEL PAR $ COMMON 345370860 181,313 18,750 X 250 0 18,500 FREEPORT MCMORAN COPP COMMON 35671D857 5,070,138 166,507 X 112,955 0 53,552 FRONTIER COMMUNICATIO COMMON 35906A108 103,400 16,923 X 14,847 0 2,076 GENERAL ELECTRIC COMP COMMON 369604103 40,314,842 2,648,807 X X 1,634,499 225 1,014,083 ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 09/30/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ GENERAL MILLS INC COMMON 370334104 1,976,346 51,347 X 44,057 0 7,290 GENL ELEC CAP CORPPFD PREFERR 369622527 1,047,397 40,300 X 40,000 0 300 GILEAD SCIENCES INC C COMMON 375558103 1,317,221 33,949 X 33,567 0 382 GLAXO PLC COMMON 37733W105 12,767,199 309,208 X 168,650 0 140,558 GOLDCORP INC NEW COM COMMON 380956409 10,389,763 227,646 X 107,583 0 120,063 GOLDMAN SACHS GROUP I COMMON 38141G104 508,017 5,373 X 5,373 0 0 GOLDMAN SACHS PFD 6.0 PREFERR 73941X577 699,952 31,500 X 31,500 0 0 GOOGLE INC CL A COMMON 38259P508 358,468 696 X 248 0 448 GRAINGER W W INC COMMON 384802104 637,040 4,260 X 4,260 0 0 GREATER CHINA FD INC MUTUAL 39167B102 116,134 11,899 X 0 0 11,899 GULFMARK OFFSHORE INC COMMON 402629208 33,990,001 935,333 X 632,399 0 302,934 HALLIBURTON CO COMMON 406216101 1,279,795 41,933 X 25,144 0 16,789 HARD TO TREAT DISEASE COMMON 41164A103 10 100,000 X 100,000 0 0 HEWLETT PACKARD CO. COMMON 428236103 5,220,007 232,517 X 134,490 0 98,027 HOME DEPOT INC COMMON 437076102 668,674 20,343 X 15,860 0 4,483 HONEYWELL INTERNATION COMMON 438516106 34,099,159 776,569 X X 482,017 65 294,487 HSBC FINANCE CORP PER PREFERR 40429C607 873,180 42,000 X 40,000 0 2,000 HSBC HOLDINGS PLC PFD PREFERR 404280802 610,320 24,000 X 24,000 0 0 HUDSON CITY BANCORP I COMMON 443683107 124,803 22,050 X 22,050 0 0 HUMANA INC COMMON 444859102 1,140,261 15,678 X 13,960 0 1,718 INGERSOLL-RAND PLC COMMON G47791101 476,434 16,961 X 12,602 0 4,359 INTEL CORPORATION COMMON 458140100 14,135,547 662,552 X 432,573 0 229,979 INTERNATIONAL BUSINES COMMON 459200101 58,602,825 335,122 X 220,039 0 115,083 ITAU UNIBANCO BANCO B COMMON 465562106 327,270 21,087 X 3,625 0 17,462 J.P. MORGAN CHASE & C COMMON 46625H100 28,716,679 953,409 X X 640,254 100 313,055 JDS UNIPHASE CORP COMMON 46612J507 149,550 15,000 X 0 0 15,000 JOHNSON & JOHNSON COMMON 478160104 37,427,429 587,650 X X 343,560 60 244,030 JPM CHASE CAPITAL XXV PREFERR 48124Y204 1,942,850 76,250 X 69,800 0 6,450 KINDER MORGAN INC DEL COMMON 49456B101 1,117,801 43,175 X 21,725 0 21,450 LA CORTEZ ENERGY INC COMMON 50255M108 5,000 25,000 X 25,000 0 0 LEGACY RESERVES LP UN COMMON 524707304 930,308 35,850 X 33,850 0 2,000 LILLY ELI & CO COMMON 532457108 1,404,675 37,995 X 28,200 0 9,795 M & T BK CORP COMMON 55261F104 676,283 9,675 X 8,500 0 1,175 MACYS INC COM COMMON 55616P104 1,297,392 49,293 X 40,980 0 8,313 MARATHON OIL CORP COM COMMON 565849106 3,923,935 181,832 X 95,982 0 85,850 MCDERMOTT INTERNATION COMMON 580037109 2,241,362 208,305 X 112,808 0 95,497 MCDONALDS CORP COMMON 580135101 285,415 3,250 X 350 0 2,900 MERCK & COMPANY COMMON 58933Y105 2,777,832 84,949 X 63,208 0 21,741 MERRILL LYNCH CAP TRU PREFERR 59024T203 371,800 20,000 X 20,000 0 0 MICROSOFT CORPORATION COMMON 594918104 41,450,661 1,665,354 X X 1,063,680 175 601,499 MINDRAY MEDICAL INTL COMMON 602675100 7,860,525 332,932 X 196,451 0 136,481 MONSANTO CO COMMON 61166W101 1,436,817 23,931 X 17,951 0 5,980 MOODYS CORP COMMON 615369105 215,891 7,090 X 1,090 0 6,000 MORGAN STANLEY COMMON 617446448 675,581 50,006 X 36,902 0 13,104 MORGAN STANLEY 6.45% PREFERR 61753R200 632,200 29,000 X 28,000 0 1,000 ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 09/30/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ NATIONAL CITY CAP TR PREFERR 63540X201 254,400 10,000 X 10,000 0 0 NATIONAL FUEL GAS CO COMMON 636180101 19,880,377 408,389 X 225,184 0 183,205 NATIONAL-OILWELL INC COMMON 637071101 25,488,788 497,633 X 344,928 0 152,705 NESTLE ADR COMMON 641069406 3,906,094 70,891 X 51,025 0 19,866 NEWMONT MNG CORP COMMON 651639106 2,365,032 37,570 X 27,610 0 9,960 NEXEN INC COM COMMON 65334H102 464,700 30,000 X 30,000 0 0 NEXTERA ENERGY INC CO COMMON 65339F101 18,896,142 349,799 X 234,289 0 115,510 NOKIA CORP COMMON 654902204 1,661,697 293,586 X 247,700 0 45,886 NORDSTROM INC COMMON 655664100 633,308 13,864 X 6,900 0 6,964 NORFOLK SOUTHN CORP COMMON 655844108 24,053,901 394,197 X 231,343 0 162,854 NORTHROP GRUMMAN CORP COMMON 666807102 781,194 14,974 X 14,908 0 66 NVIDIA CORP COM COMMON 67066G104 204,539 16,350 X 0 0 16,350 OLIN CORP PAR $1. COMMON 680665205 318,777 17,700 X 2,450 0 15,250 OMNICOM GROUP COMMON 681919106 284,884 7,733 X 7,733 0 0 ORACLE SYS CORP COMMON 68389X105 17,705,507 616,058 X X 390,857 125 225,076 PATRIOT TRANSN HLDG I COMMON 70337B102 4,711,315 233,118 X 210,468 0 22,650 PAYCHEX INC COMMON 704326107 300,618 11,400 X 2,000 0 9,400 PEOPLES UNITED FINANC COMMON 712704105 2,517,964 220,874 X 208,424 0 12,450 PEPSICO INC COMMON 713448108 1,476,563 23,854 X X 14,424 55 9,375 PETROBRAS BRASILEIRO COMMON 71654V101 1,406,246 67,869 X 18,159 0 49,710 PFIZER INC COMMON 717081103 12,887,236 728,916 X 431,339 0 297,577 PHILIP MORRIS INTL IN COMMON 718172109 1,399,121 22,429 X 579 0 21,850 PNC FINANCIAL GROUP COMMON 693475105 21,226,605 440,477 X 265,226 0 175,251 POTASH CORP SASK INC COMMON 73755L107 1,808,065 41,834 X 32,070 0 9,764 PPG INDS INC COMMON 693506107 633,891 8,971 X 7,386 0 1,585 PRAXAIR INC COMMON 74005P104 34,319,035 367,127 X 202,711 0 164,416 PROCTER & GAMBLE CO COMMON 742718109 12,649,647 200,216 X 144,520 0 55,696 PROGRESS ENERGY COMMON 743263105 222,396 4,300 X 2,300 0 2,000 PUBLIC STORAGE INC COMMON 74460D109 239,959 2,155 X 2,155 0 0 QEP RES INC COM COMMON 74733V100 15,568,444 575,118 X X 328,164 100 246,854 QUALCOMM INC COMMON 747525103 936,614 19,260 X 4,389 0 14,871 QUESTAR CORP COMMON 748356102 25,503,799 1,440,079 X 799,054 0 641,025 RANGE RES CORP COM COMMON 75281A109 37,595,977 643,106 X 375,733 0 267,373 RAYTHEON CO NEW COM COMMON 755111507 352,340 8,621 X 8,119 0 502 REGIONS FINANCIAL COR COMMON 7591EP100 37,346 11,215 X 6,746 0 4,469 RELM WIRELESS CORP CO COMMON 759525108 14,432 14,727 X 14,727 0 0 RENAISSANCERE HLDGS L COMMON G7496G103 2,330,359 36,526 X 33,825 0 2,701 ROCHE HLDG LTD SPONSO COMMON 771195104 423,744 10,466 X 10,000 0 466 ROYAL DUTCH SHELL PLC COMMON 780259107 17,700,507 285,262 X X 175,620 55 109,587 ROYAL DUTCH SHELL PLC COMMON 780259206 1,281,790 20,835 X 13,570 0 7,265 SANOFI-AVENTIS ADR COMMON 80105N105 1,430,867 43,624 X 31,039 0 12,585 SCHLUMBERGER COMMON 806857108 27,189,992 455,215 X X 274,416 50 180,749 SEASPAN CORP SHS COMMON Y75638109 164,508 14,355 X 5 0 14,350 SENSATA TECHNOLOGIES COMMON N7902X106 2,122,357 80,210 X 60,370 0 19,840 SONOCO PRODUCTS COMMON 835495102 3,122,972 110,626 X 95,171 0 15,455 ESTABROOK CAPITAL MANAGEMENT LLC DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 09/30/11 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ SPECTRA ENERGY CORP C COMMON 847560109 31,996,589 1,304,386 X 777,940 0 526,446 STAPLES INC COMMON 855030102 152,950 11,500 X 2,000 0 9,500 STRYKER CORP COMMON 863667101 3,033,051 64,355 X 47,375 0 16,980 SUNCOR ENERGY INC COMMON 867224107 260,760 10,250 X 4,250 0 6,000 SUPERIOR ENERGY SVCS COMMON 868157108 2,058,790 78,460 X 72,360 0 6,100 SYSCO CORP COMMON 871829107 364,232 14,063 X 1,763 0 12,300 TARGET CORP COMMON 87612E106 2,835,738 57,825 X X 35,973 80 21,772 TECO ENERGY INC COMMON 872375100 2,166,089 126,450 X 103,150 0 23,300 TEVA PHARMACEUTICAL I COMMON 881624209 1,654,429 44,450 X 31,865 0 12,585 TEXAS INSTRUMENTS INC COMMON 882508104 4,676,462 175,477 X 113,329 0 62,148 TIFFANY & CO NEW COMMON 886547108 5,090,999 83,706 X 79,881 0 3,825 TORONTO DOMINION BK O COMMON 891160509 6,190,461 87,251 X 31,837 0 55,414 TOYOTA MTR CORP ADR 1 COMMON 892331307 1,030,726 15,100 X 100 0 15,000 TRANSCANADA CORP COM COMMON 89353D107 34,306,651 847,287 X 497,923 0 349,364 TRAVELERS COMPANIES I COMMON 89417E109 691,917 14,199 X 13,187 0 1,012 U S BANCORP COMMON 902973304 13,468,576 572,157 X 354,100 0 218,057 UNILEVER PLC ADR SPON COMMON 904767704 229,558 7,360 X 5,380 0 1,980 UNION PAC CORP COMMON 907818108 16,112,103 197,283 X 157,191 0 40,092 UNITED TECHNOLOGIES C COMMON 913017109 26,511,279 376,795 X 224,690 0 152,105 UNITEDHEALTH GROUP IN COMMON 91324P102 3,230,568 70,047 X 65,170 0 4,877 US CELLULAR CORP 6.95 PREFERR 911684405 332,540 13,000 X 13,000 0 0 V F CORP COMMON 918204108 1,580,489 13,006 X 8,000 0 5,006 VALE S A ADR COMMON 91912E105 968,932 42,497 X 28,080 0 14,417 VALLEY NATL BANCORP COMMON 919794107 109,448 10,335 X 10,335 0 0 VERIZON COMMUNICATION COMMON 92343V104 27,336,121 742,829 X 479,230 0 263,600 VODAFONE GROUP INC COMMON 92857W209 598,827 23,337 X X 12,237 150 10,950 VULCAN MATERIALS CO COMMON 929160109 317,326 11,514 X 7,121 0 4,393 WACHOVIA CAP TRUST TR PREFERR 92978U207 243,611 9,725 X 2,000 0 7,725 WAL MART STORES INC COMMON 931142103 414,162 7,980 X 4,030 0 3,950 WALGREEN CO COMMON 931422109 216,745 6,590 X 1,440 0 5,150 WALTER INDS INC COMMON 93317Q105 1,386,831 23,110 X 16,095 0 7,015 WASTE MANAGEMENT INC COMMON 94106L109 1,712,037 52,581 X 42,633 0 9,948 WEATHERFORD INTERNATI COMMON H27013103 19,123,754 1,566,237 X 1,019,787 0 546,450 WELLS FARGO NEW COMMON 949746101 22,828,649 946,461 X X 606,503 140 339,818 WELLSTAR INTERNATIONA COMMON 949902209 0 20,000 X 20,000 0 0 WESTERN UN CO COM COMMON 959802109 921,284 60,254 X 53,904 0 6,350 WHOLE FOODS MKT INC COMMON 966837106 288,278 4,414 X 14 0 4,400 WILLIAMS CO COMMON 969457100 7,653,640 314,447 X 201,682 0 112,765 WIPRO LTD SPON ADR 1 COMMON 97651M109 148,000 16,000 X 0 0 16,000 XCEL ENERGY INC COMMON 98389B100 253,665 10,274 X 6,689 0 3,585 ZIMMER HLDGS INC COMMON 98956P102 307,991 5,759 X 5,340 0 419 TOTAL 1,445,328,857